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Tesla Tumbles On Margins Miss & Deliveries Downgrade

It appears faith in the hyper-growth names is fading. Tesla is down 8% after hours after humans parsed through its various non-GAAP shenanigans and found:

  • *TESLA 2Q ADJ. TOTAL GROSS MARGIN 23.4%, EST. 26.2%
  • *TESLA SEES YR DELIVERIES 50K-55K MODEL S & X; SAW ABOUT 55K

Not close to whispor numbers and fears of model X production challenges are now dragging down expectations for model S output. Musk is gonna need a bigger government subsidy...